insurance-n; 3 Senses

Sense Number 1: a contractual arrangement providing financial protection against some type of risk

Commentary: INSURANCE[+entity][+abstract][+contract][+protection][+financial][+against_risk] the legal contract that provides financial coverage against various types of risk

John's auto insurance went up last year after his car accident.
The insurance will pick up all surgical costs except for cosmetic surgery.
The insurance policies are kept in our safe deposit box.
The insurance company is refusing to pay more than half of Sally's dental bill.
When will we be able to collect the insurance on our damaged roof?
Bob took out a million dollars in life insurance.

WordNet 3.0 Sense Numbers: 1

Sense Number 2: to protect oneself against a possible future adversity

Commentary: INSURANCE[+relation][+role][+protection][+against_adversity] Refers to anything which serves as a protection against a possible adversity
NOTE: an extension of Sense 1, but has NO implications of a written legal policy issued by an insurer.

They are seeking ties with other-oil producing nations as insurance against disruption in the Middle East.
Having children may not be an insurance against loneliness in old age.
The addition of bonds in your portfolio could serve as insurance against a down-turning stock market. (a counterbalance)

WordNet 3.0 Sense Numbers: 3

Sense Number 3: the industry that sells financial policies against risk

Commentary: INSURANCE[+entity][+organization][+industry][+seller][+of_risk_policy] refers to the industry as a group, the companies that issue the contracts of Sense 1

Insurance and pharmaceuticals are both promising sectors according to stock analysts.
Mergers are now starting to occur even in health insurance. (companies in that industry are merging)
The candidate advocated more deregulation of insurance and utilities. . (refers to ow the businesses are regulated)

WordNet 3.0 Sense Numbers: 3